+ Watch WMAR
on My Watchlist
The Company is a boating supplies retailers.
West Marine (WMAR) at $11.52 trade at net tangible assets, and a low enterprise value/revenue of 0.37. Over the past 5 years, it has paid off debt, built up cash, and is now buying back shares. It has remained profitable and is slowly growing.
The old POS system holds in its depths all the revenue,which will come out milk-white from the replacement POS,Needlessly troubled people will not dare touch it,unaware that the foundation of the earth is of clay.
I agree 100% with the viewpoint that West Marine will end up in the investment graveyard. I am surprised that this company can be permitted to be a “public” company. According to publicly available information, the firm is owned 35% by insiders (and 5% owners), and the percent of shares held by Institutional and Mutual Fund Owners is 53%. The worst part of this company is its latest marketing approach. I have done business with WMAR for some time, as a power-boating customer, and I have been on their emailing list for periodic offers. I have recently received a POLITICAL eMAILING from them exhorting me to pressure my elected representatives to support the democrat party’s Waxman-Markey carbon tax legislation. In a lengthy, preachy email, the Chairman of WMAR, who I have since found out is a contributor to moveon-org and far-left California democrat politicians, cites the absolute garbage put out by the leftist anti-American United Nations and “Oceana” another “non-profit” leftist organization which features Hollywood whackos like Ted Danson. Oceana is against offshore drilling (at least by the U.S.) – so I guess we are supposed to throw away (I mean responsibly dispose of) our power boats and sailboats that are made from fiberglass or plastics, and limit our boating to using biodegradable cardboard rafts. So it seems to me that WMAR is committing suicide by marketing. It just doesn’t seem responsible for a publicly-held company to exhort their customers to stop engaging in the activities, which give rise to them doing business with the company.
Low & Middle-class citizens don't buy luxury boats/boating supplies. It'll pick back up once all the ninnies stop dumping their shares.
with a PE of 85, and a recent run up in price... WMAR is set to sink.
It's a company selling luxury items during what is potentially an economic meltdown, and has a P/E of over 85 at the time of this pitch.Sure, someone might counter the luxury item remark by saying that economic downturns don't affect the "rich" but I would say that there aren't enough "rich" people out there that will be buying boats and boating accessories over the next couple of years, unless it's rich Chinese people taking advantage of a very weakened U.S. dollar.
From my short ideas/valuation screen
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